Go to Jeff Salisbury LWGate Home Page.From: "Alicia Lensing" <alensing@prodigy.net>
Subject: [CANSLIM] Fibonacci
Date: Sun, 21 Jul 2002 10:14:02 -0500
Next Article (by Author): Re: [CANSLIM] M - How low will it go. "Ira Post"
Articles sorted by: [Date]
[Author]
[Subject]
This is a multi-part message in MIME format.
- ------=_NextPart_000_00AB_01C2309F.56205CD0
Content-Type: text/plain;
charset="iso-8859-1"
Content-Transfer-Encoding: quoted-printable
Ira:
I have used Fibs in my trading for years. Please visit the following =
link for what I hope is a basic tutorial.
Best of luck,
Alicia Lensing
http://www.tradingmarkets.com/.site/futures/education/Fibonacci/11202000-=
10116.cfm
----- Original Message -----=20
From: Ira Post=20
To: canslim@lists.xmission.com=20
Sent: Sunday, July 21, 2002 2:58 AM
Subject: Re: [CANSLIM] M - How low will it go.
Ernie,
=20
I've been hearing alot about Fibonacci lately and would like to get a =
backround in it. Can you recomend a website or book that would help? =
Something easy to read would be best.
=20
Thanks,
Ira
----- Original Message -----=20
From: Hill, Ernie=20
To: 'canslim@lists.xmission.com'=20
Sent: Sunday, July 21, 2002 12:16 AM
Subject: RE: [CANSLIM] M - How low will it go.
Ira,
=20
In my post made on 7-17 I said that the bounce I was expecting had =
been made that day and that I expected the S&P to drop to at least 865 =
by Monday. What I didn't say was that 845 was my next target. I also =
posted on 7-13 that I expected a drop to the 759-782 level by 8-15 or =
8-16.
=20
Bear with me on some of these numbers while I build my case. I am =
going to talk about Fibonacci extensions a little bit. A Fibonacci =
extension is measuring a current move by comparing it to recent moves in =
the same direction. This is the series of numbers for these extensions =
.236, .5, .618, 1.00, 1.236, 1.5, 1.618, & so on.
=20
If we measure from the high on 5-17 to the low on 6-14 and multiply =
the points by 1.618 and then subtract this number from the high on 6-18 =
we get 838.74.
=20
If we measure from the high on 6-18 to the low on 7-3 and multiply =
the points by 1.382 and then subtract this number from the high on 7-8 =
we get 847.22. We closed Friday at 847.76.
=20
If we measure from the high on 6-18 to the low on 7-15 and multiply =
the points by .5 and then subtract this number from the high on 7-17 we =
get 844.44. The low on Friday was 842.14.
=20
This is an impressive cluster of Fibonacci extensions all occurring =
very near where the market ended up on Friday. This could be strong =
enough support to signal a turn in the market from here. Generally this =
type of support would provide a spring board from which to move up. =
However, my timing model suggests that we will continue to work lower to =
at least 7-24. Also the slope of the decline has become much sharper =
suggesting to me that we finally saw some fear in this market. I =
therefore, would not be surprised to see the market move down sharply =
again on Monday. I also would not be surprised to see a one or two day =
bounce from this level, and then a continuation of the decline.
=20
As far as my forecast of 759-782 by 8-15 or 8-16 I stand by that =
forecast with one modification, due to the fear that I see beginning to =
be manifest in the market I think this level could be seen by an earlier =
date specifically 7-25 or 7-26. And the 780 level looks to be the =
stronger candidate. Here is the case for 780.
=20
If we measure from the high on 3-19 to the low on 5-7 and multiply =
the points by 2.618 and then subtract this number from the high on 5-17 =
we get 779.79.
=20
If we measure from the high on 6-18 to the low on 7-3 and multiply =
the points by 1.382 and then subtract this number from the high on 7-17 =
we get 780.18.
=20
And if we measure from the high on 7-8 to the low on 7-15 and =
multiply the points by 1.236 and then subtract this number from the high =
on 7-17 we get 781.91.
=20
This is a very tight cluster of Fibonacci extensions and suggests =
that this could be the level where we can find an intermediate term =
bottom. Not THE bottom, but a bottom that could spark a very strong bear =
market rally.
=20
In conclusion Friday could have been the intermediate term bottom at =
842.14, but my stuff suggests that the odds are in favor of at least one =
more swift drop to the 780 level before the intermediate term bottom is =
in.
=20
E
=20
=20
-----Original Message-----
From: Ira Post [mailto:ip108@yahoo.com]=20
Sent: Saturday, July 20, 2002 4:21 AM
To: canslim@lists.xmission.com
Subject: [CANSLIM] M - How low will it go.
=20
I've been sitting out of the market and this discussion list because =
I don't think these market conditions are suitable for Canslim. But I'm =
ready to get back into it once the market turns around.
=20
My question is how much longer before the market turns and how low =
will it get? I'd like to hear alot of different opinons and people's =
reasons. It may do us all some good.
=20
Ira
=20
---
Outgoing mail is certified Virus Free.
Checked by AVG anti-virus system (http://www.grisoft.com).
Version: 6.0.377 / Virus Database: 211 - Release Date: 7/15/02
******************************************************************
This email and any files transmitted with it from the ElPaso=20
Corporation are confidential and intended solely for the=20
use of the individual or entity to whom they are addressed.=20
If you have received this email in error please notify the=20
sender.
******************************************************************
- ------=_NextPart_000_00AB_01C2309F.56205CD0
Content-Type: text/html;
charset="iso-8859-1"
Content-Transfer-Encoding: quoted-printable
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML xmlns=3D"http://www.w3.org/TR/REC-html40" xmlns:v =3D=20
"urn:schemas-microsoft-com:vml" xmlns:o =3D=20
"urn:schemas-microsoft-com:office:office" xmlns:w =3D=20
"urn:schemas-microsoft-com:office:word" xmlns:st1 =3D=20
"urn:schemas-microsoft-com:office:smarttags"><HEAD>
<META content=3D"text/html; charset=3Diso-8859-1" =
http-equiv=3DContent-Type>
<META content=3DWord.Document name=3DProgId>
<META content=3D"MSHTML 5.00.3315.2870" name=3DGENERATOR>
<META content=3D"Microsoft Word 10" name=3DOriginator><LINK=20
href=3D"cid:filelist.xml@01C23043.80ADEFA0" =
rel=3DFile-List><o:SmartTagType=20
namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags"=20
name=3D"time"></o:SmartTagType><o:SmartTagType=20
namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags"=20
name=3D"date"></o:SmartTagType><o:SmartTagType=20
namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags"=20
name=3D"PersonName"></o:SmartTagType><!--[if gte mso 9]><xml>
<o:OfficeDocumentSettings>
<o:DoNotRelyOnCSS/>
</o:OfficeDocumentSettings>
</xml><![endif]--><!--[if gte mso 9]><xml>
<w:WordDocument>
<w:SpellingState>Clean</w:SpellingState>
<w:GrammarState>Clean</w:GrammarState>
<w:DocumentKind>DocumentEmail</w:DocumentKind>
<w:EnvelopeVis/>
<w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel>
</w:WordDocument>
</xml><![endif]--><!--[if !mso]>
<STYLE>st1\:* {
BEHAVIOR: url(#default#ieooui)
}
</STYLE>
<![endif]-->
<STYLE>
<!--
/* Font Definitions */
@font-face
{font-family:Tahoma;
panose-1:2 11 6 4 3 5 4 4 2 4;
mso-font-charset:0;
mso-generic-font-family:swiss;
mso-font-pitch:variable;
mso-font-signature:553679495 -2147483648 8 0 66047 0;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{mso-style-parent:"";
margin:0in;
margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:12.0pt;
font-family:"Times New Roman";
mso-fareast-font-family:"Times New Roman";}
a:link, span.MsoHyperlink
{color:blue;
text-decoration:underline;
text-underline:single;}
a:visited, span.MsoHyperlinkFollowed
{color:blue;
text-decoration:underline;
text-underline:single;}
span.EmailStyle17
{mso-style-type:personal-reply;
mso-style-noshow:yes;
mso-ansi-font-size:10.0pt;
mso-bidi-font-size:10.0pt;
font-family:Arial;
mso-ascii-font-family:Arial;
mso-hansi-font-family:Arial;
mso-bidi-font-family:Arial;
color:navy;}
span.SpellE
{mso-style-name:"";
mso-spl-e:yes;}
span.GramE
{mso-style-name:"";
mso-gram-e:yes;}
@page Section1
{size:8.5in 11.0in;
margin:1.0in 1.25in 1.0in 1.25in;
mso-header-margin:.5in;
mso-footer-margin:.5in;
mso-paper-source:0;}
div.Section1
{page:Section1;}
- -->
</STYLE>
<!--[if gte mso 10]>
<style>
/* Style Definitions */=20
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-parent:"";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin:0in;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:"Times New Roman";}
</style>
<![endif]--><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext=3D"edit" spidmax=3D"1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext=3D"edit">
<o:idmap v:ext=3D"edit" data=3D"1" />
</o:shapelayout></xml><![endif]--></HEAD>
<BODY bgColor=3Dwhite lang=3DEN-US link=3Dblue style=3D"tab-interval: =
.5in" vLink=3Dblue>
<DIV><FONT face=3D"Comic Sans MS" =
size=3D2><STRONG>Ira:</STRONG></FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=3D"Comic Sans MS" size=3D2><STRONG>I have used Fibs in =
my trading=20
for years. Please visit the following link for what I hope is a =
basic=20
tutorial.</STRONG></FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=3D"Comic Sans MS" size=3D2><STRONG>Best of=20
luck,</STRONG></FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=3D"Comic Sans MS" size=3D2><STRONG>Alicia=20
Lensing</STRONG></FONT></DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV><STRONG><FONT face=3D"Comic Sans MS" size=3D2><A=20
href=3D"http://www.tradingmarkets.com/.site/futures/education/Fibonacci/1=
1202000-10116.cfm">http://www.tradingmarkets.com/.site/futures/education/=
Fibonacci/11202000-10116.cfm</A></FONT></STRONG></DIV>
<DIV> </DIV>
<DIV> </DIV>
<BLOCKQUOTE=20
style=3D"BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: =
0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A href=3D"mailto:ip108@yahoo.com" title=3Dip108@yahoo.com>Ira =
Post</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
href=3D"mailto:canslim@lists.xmission.com"=20
title=3Dcanslim@lists.xmission.com>canslim@lists.xmission.com</A> =
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Sunday, July 21, 2002 =
2:58 AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] M - How =
low will=20
it go.</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3DArial size=3D2>Ernie,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>I've been hearing alot about =
Fibonacci lately and=20
would like to get a backround in it. Can you recomend a website =
or book=20
that would help? Something easy to read would be best.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Thanks,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2>Ira</FONT></DIV>
<BLOCKQUOTE=20
style=3D"BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; =
MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A href=3D"mailto:Ernie.Hill@ElPaso.com" =
title=3DErnie.Hill@ElPaso.com>Hill,=20
Ernie</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
href=3D"mailto:'canslim@lists.xmission.com'"=20
title=3Dcanslim@lists.xmission.com>'canslim@lists.xmission.com'</A> =
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Sunday, July 21, 2002 =
12:16=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] M - =
How low will=20
it go.</DIV>
<DIV><BR></DIV>
<DIV class=3DSection1>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">Ira,<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In my =
post made on=20
7-17 I said that the bounce I was expecting had been made that day =
and that=20
I expected the S&P to drop to at least 865 by Monday. What I =
didn't say=20
was that 845 was my next target. I also posted on 7-13 that I =
expected a=20
drop to the 759-782 level by 8-15 or =
8-16.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Bear with =
me on=20
some of these numbers while I build my case. I am going to talk =
about=20
Fibonacci extensions a little bit. A Fibonacci extension is =
measuring a=20
current move by comparing it to recent moves in the same direction. =
This is=20
the series of numbers for these extensions .236, .5, .618, 1.00, =
1.236, 1.5,=20
1.618, & so on.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: 10pt">If we =
measure from=20
the high on 5-17 to the low on 6-14 and multiply the points by 1.618 =
and=20
then subtract this number from the high on 6-18 we get =
</SPAN></FONT><FONT=20
color=3Dred face=3DArial size=3D2><SPAN=20
style=3D"COLOR: red; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">838.74</SPAN></FONT><FONT=20
color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: 10pt">If we =
measure from=20
the high on 6-18 to the low on 7-3 and multiply the points by 1.382 =
and then=20
subtract this number from the high on 7-8 we get </SPAN></FONT><FONT =
color=3Dred face=3DArial size=3D2><SPAN=20
style=3D"COLOR: red; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">847.22</SPAN></FONT><FONT=20
color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: 10pt">. We =
closed Friday=20
at </SPAN></FONT><FONT color=3Dred face=3DArial size=3D2><SPAN=20
style=3D"COLOR: red; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">847.76</SPAN></FONT><FONT=20
color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: 10pt">If we =
measure from=20
the high on 6-18 to the low on 7-15 and multiply the points by .5 =
and then=20
subtract this number from the high on 7-17 we get =
</SPAN></FONT><FONT=20
color=3Dred face=3DArial size=3D2><SPAN=20
style=3D"COLOR: red; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">844.44</SPAN></FONT><FONT=20
color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: 10pt">. The low =
on Friday=20
was </SPAN></FONT><FONT color=3Dred face=3DArial size=3D2><SPAN=20
style=3D"COLOR: red; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">842.14</SPAN></FONT><FONT=20
color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: 10pt">This is =
an=20
impressive cluster of Fibonacci extensions all occurring very near =
where the=20
market ended up on Friday. This could be strong enough support to =
signal a=20
turn in the market from here. Generally this type of support would =
provide a=20
spring board from which to move up. However, my timing model =
suggests that=20
we will continue to work lower to at least 7-24. Also the slope of =
the=20
decline has become much sharper suggesting to me that we finally saw =
some=20
fear in this market. I therefore, would not be surprised to see the =
market=20
move down sharply again on Monday. I also would not be surprised to =
see a=20
one or two day bounce from this level, and then a continuation of =
the=20
decline.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: 10pt">As far as =
my=20
forecast of 759-782 by 8-15 or 8-16 I stand by that forecast with =
one=20
modification, due to the fear that I see beginning to be manifest in =
the=20
market I think this level could be seen by an earlier date =
specifically 7-25=20
or 7-26. And the </SPAN></FONT><FONT color=3Dred face=3DArial =
size=3D2><SPAN=20
style=3D"COLOR: red; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">780</SPAN></FONT><FONT=20
color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: 10pt"> level =
looks to be=20
the stronger candidate. Here is the case for=20
780.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: 10pt">If we =
measure from=20
the high on 3-19 to the low on 5-7 and multiply the points by 2.618 =
and then=20
subtract this number from the high on 5-17 we get =
</SPAN></FONT><FONT=20
color=3Dred face=3DArial size=3D2><SPAN=20
style=3D"COLOR: red; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">779.79</SPAN></FONT><FONT=20
color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: 10pt">If we =
measure from=20
the high on 6-18 to the low on 7-3 and multiply the points by 1.382 =
and then=20
subtract this number from the high on 7-17 we get =
</SPAN></FONT><FONT=20
color=3Dred face=3DArial size=3D2><SPAN=20
style=3D"COLOR: red; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">780.18</SPAN></FONT><FONT=20
color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: 10pt">And if we =
measure=20
from the high on 7-8 to the low on 7-15 and multiply the points by =
1.236 and=20
then subtract this number from the high on 7-17 we get =
</SPAN></FONT><FONT=20
color=3Dred face=3DArial size=3D2><SPAN=20
style=3D"COLOR: red; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">781.91</SPAN></FONT><FONT=20
color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: 10pt">This is a =
very=20
tight cluster of Fibonacci extensions and suggests that this could =
be the=20
level where we can find an intermediate term bottom. Not THE bottom, =
but a=20
bottom that could spark a very strong bear market=20
rally.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In =
conclusion=20
Friday could have been the intermediate term bottom at 842.14, but =
my stuff=20
suggests that the odds are in favor of at least one <SPAN =
class=3DGramE>more=20
swift</SPAN> drop to the 780 level before the intermediate term =
bottom is=20
in.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt">E<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT color=3Dnavy face=3DArial size=3D2><SPAN=20
style=3D"COLOR: navy; FONT-FAMILY: Arial; FONT-SIZE: =
10pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">-----Original=20
Message-----<BR><B><SPAN style=3D"FONT-WEIGHT: =
bold">From:</SPAN></B> Ira Post=20
[mailto:ip108@yahoo.com<SPAN class=3DGramE>] <BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">Sent</SPAN></B></SPAN><B><SPAN=20
style=3D"FONT-WEIGHT: bold">:</SPAN></B> </SPAN></FONT><st1:date =
Month=3D"7"=20
Day=3D"20" Year=3D"2002"><FONT face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">Saturday, July 20,=20
2002</SPAN></FONT></st1:date><FONT face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"> =
</SPAN></FONT><st1:time=20
Hour=3D"4" Minute=3D"21"><FONT face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-FAMILY: Tahoma; FONT-SIZE: 10pt">4:21=20
AM</SPAN></FONT></st1:time><FONT face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"><BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">To:</SPAN></B> =
</SPAN></FONT><st1:PersonName><FONT=20
face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-FAMILY: Tahoma; FONT-SIZE: =
10pt">canslim@lists.xmission.com</SPAN></FONT></st1:PersonName><FONT=20
face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-FAMILY: Tahoma; FONT-SIZE: 10pt"><BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">Subject:</SPAN></B> [CANSLIM] M - How =
low will it=20
<SPAN class=3DGramE>go.</SPAN></SPAN></FONT><o:p></o:p></P>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"><o:p> </o:p></SPAN></FONT></P>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-FAMILY: Arial; FONT-SIZE: 10pt">I've been sitting out =
of the=20
market and this discussion list because I don't think these market=20
conditions are suitable for Canslim. But I'm ready to get back =
into it=20
once the market turns around.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-FAMILY: Arial; FONT-SIZE: 10pt">My question is how =
much longer=20
before the market turns and how low will it get? I'd like to =
hear alot=20
of different opinons and people's reasons. It may do us all =
some=20
good.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-FAMILY: Arial; FONT-SIZE: =
10pt">Ira</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-FAMILY: Arial; FONT-SIZE: 10pt"><BR>---<BR>Outgoing =
mail is=20
certified Virus Free.<BR>Checked by AVG anti-virus system (<A=20
=
href=3D"http://www.grisoft.com">http://www.grisoft.com</A>).<BR>Version: =
6.0.377 / Virus Database: 211 - Release Date:=20
7/15/02</SPAN></FONT><o:p></o:p></P></DIV></DIV><CODE><FONT=20
=
size=3D3><BR><BR>********************************************************=
**********<BR>This=20
email and any files transmitted with it from the ElPaso =
<BR>Corporation are=20
confidential and intended solely for the <BR>use of the individual =
or entity=20
to whom they are addressed. <BR>If you have received this email in =
error=20
please notify the=20
=
<BR>sender.<BR>**********************************************************=
********<BR></BLOCKQUOTE></BLOCKQUOTE></FONT></CODE></BODY></HTML>
- ------=_NextPart_000_00AB_01C2309F.56205CD0--
- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim". Do not use quotes in your email.
Next Article (by Author): Re: [CANSLIM] M - How low will it go. "Ira Post"
Articles sorted by: [Date]
[Author]
[Subject]